Glenmede Trust Co. NA Has $396,000 Stake in ITT Inc. (NYSE:ITT)
Glenmede Trust Co. NA continued to hold its position in ITT Inc. (NYSE:ITT) during the first quarter, Holdings Channel reports. The fund owned 10,305 shares of the conglomerate’s stock at the end of the first quarter. Glenmede Trust Co. NA’s holdings in ITT were worth $396,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its position in ITT by 10.2% in the first quarter. AQR Capital Management LLC now owns 1,295,962 shares of the conglomerate’s stock worth $53,160,000 after buying an additional 119,933 shares during the period. Gotham Asset Management LLC boosted its position in ITT by 15.6% in the first quarter. Gotham Asset Management LLC now owns 159,322 shares of the conglomerate’s stock worth $6,535,000 after buying an additional 21,493 shares during the period. State Street Corp boosted its position in ITT by 1.2% in the first quarter. State Street Corp now owns 2,304,207 shares of the conglomerate’s stock worth $94,518,000 after buying an additional 26,345 shares during the period. Schwab Charles Investment Management Inc. boosted its position in ITT by 4.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 351,402 shares of the conglomerate’s stock worth $14,415,000 after buying an additional 15,761 shares during the period. Finally, Amalgamated Bank boosted its position in ITT by 3.0% in the first quarter. Amalgamated Bank now owns 14,286 shares of the conglomerate’s stock worth $586,000 after buying an additional 421 shares during the period. Hedge funds and other institutional investors own 92.58% of the company’s stock.
ITT Inc. (NYSE ITT) opened at 41.44 on Thursday. The firm has a market capitalization of $3.68 billion, a P/E ratio of 19.10 and a beta of 1.47. The stock’s 50 day moving average is $39.29 and its 200-day moving average is $40.48. ITT Inc. has a 1-year low of $30.91 and a 1-year high of $44.00.
ITT (NYSE:ITT) last posted its earnings results on Monday, May 8th. The conglomerate reported $0.64 EPS for the quarter, topping the consensus estimate of $0.60 by $0.04. The company had revenue of $625.80 million during the quarter, compared to the consensus estimate of $607.08 million. ITT had a net margin of 8.04% and a return on equity of 14.65%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.59 earnings per share. Analysts forecast that ITT Inc. will post $2.43 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 3rd. Stockholders of record on Monday, June 12th were given a dividend of $0.128 per share. This represents a $0.51 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend was Thursday, June 8th. ITT’s payout ratio is presently 23.50%.
A number of research firms have issued reports on ITT. BidaskClub upgraded ITT from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. ValuEngine upgraded ITT from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Goldman Sachs Group, Inc. (The) cut ITT from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $46.00 to $43.00 in a report on Tuesday, June 6th. Stifel Nicolaus increased their target price on ITT from $49.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, May 9th. Finally, TheStreet upgraded ITT from a “c+” rating to a “b” rating in a report on Monday, March 27th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. ITT currently has an average rating of “Buy” and an average price target of $46.67.
ITT Company Profile
ITT Corporation (ITT) is a diversified manufacturer of engineered critical components and technology solutions for industrial markets. The Company’s product and service offerings are organized in four segments: Industrial Process, Motion Technologies, Interconnect Solutions and Control Technologies. Industrial Process manufactures engineered fluid process equipment, and is a provider of plant optimization, solutions and aftermarket services and parts.
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